Our ALGO engine triggered a buy signal on CWN at $11.43 on August 11th.
With the current price around $11.77, the trade has been slow to develop but we still prefer the long side.
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CWN will go ex-dividend tomorrow and pay shareholders 30 cents, with 60% franking.
Looking across the gaming sector, we see improving conditions for CWN, SGR and Tabcorp. Seasonal growth in tourist numbers will benefit all three of these names.
We see scope to reach upside targets of $12.80 in CWN, $5.10 in TAH and $5.75 in SGR over the medium-term.
Crown Resorts
Tabcorp
Star Entertainment
